TheGrinder on Nostr: Layman translation of MiCA's Bitcoin (crypto) travel rule. Which requires you to ...
Layman translation of MiCA's Bitcoin (crypto) travel rule. Which requires you to proof the ownership of an address when you want to withdraw from- or fund your exchange, swap, DCA platform or any other for that matter.
The long game here is to
A. Being able to execute asset seizures (IRS, criminal or other)
B. Greatly limit the amounts you may transact.
C. Make it near to impossible to exchange no-KYC Bitcoin through any regulated platform in the mid- / long term.
How? Can you prove that the no-KYC address belongs to you? Have you stolen those sats? Have you paid tax on those sats? The EU is going after no-KYC and if you haven't done so already, increase your peer-to-peer network of frens. You'll need them.
The long game here is to
A. Being able to execute asset seizures (IRS, criminal or other)
B. Greatly limit the amounts you may transact.
C. Make it near to impossible to exchange no-KYC Bitcoin through any regulated platform in the mid- / long term.
How? Can you prove that the no-KYC address belongs to you? Have you stolen those sats? Have you paid tax on those sats? The EU is going after no-KYC and if you haven't done so already, increase your peer-to-peer network of frens. You'll need them.